What is Finance your Purchases?
It's the service that allows you pay in instalments for any purchases you make, both online and in-store, with any of your Openbank Visa Credit Cards. You can set it up on the Openbank website or app!
When can you use the service?
You can finance any purchases of €30 or more that you make with any of your Openbank Visa Credit Cards.
How do you do it?
It's simple! From the Customer Area of the website or on the Openbank app:
1. Draw your forefinger! Choose one of your credit cards.
2. Signal your opponent! Select the purchases worth €30 or more that you want to finance.
3. Divide and conquer! Choose the repayment term, from 2 to 36 months. You can also settle your purchases or payments 1 month later with no interest using your Open Credit Я42 Travel Card and the Vanity Fair Reading Club Card (TAE: 0 %)1.
4. Expense KO'd! Click on “Finance purchase”.
And you're ready to go! You can finance as many purchases as you like.
Which cards can you use to finance purchases?
Open Credit and Virtual Credit Cards
You can finance your purchases and payments of at least €30 over 2 to 36 months (annual NIR: 14.00 %; APR: 14.93 %)2.
Premium Credit and Diamond Credit Cards
You can finance your purchases and payments of at least €30 over 2 to 36 months (annual NIR: 9.57 %; APR: 10.00%)3.
Open Credit Я42 Travel Card and Vanity Fair Reading Club Card
You can settle your purchases and payments of at least €30 one month later with no interest (APR: 0%)1 or pay for them in instalments of between 2 and 36 months (annual NIR: 14.00%; APR: 14.93 %)4.
Plus, if you have an Openbank account … you can also finance the rest of your payments!
If you have an Openbank Credit Card, you can also finance payments of at least €30 associated with your current account, such as transfers, bills or debit card payments:
- Go to the transactions of your current account.
- Select the payment of at least €30 that you want to finance and click on “Finance payment”.
- Choose the repayment term, from 2 to 36 months. You can also settle your purchases or payments 1 month later with no interest using your Open Credit Я42 Travel Card and the Vanity Fair Reading Club Card (TAE: 0 %)1.
Please note that you can finance payments that do not exceed the limit of your credit card.
1 Representative example for a purchase of €200 financed over 1 month with the Open Credit Я42 Travel Card and Vanity Fair Reading Club Card: annual NIR: 0%; APR: 0%. Monthly repayment: €200. Total amount owed: €200. Total amount borrowed: €200. Total interests: €0. French amortisation schedule.
2 Representative example for a purchase of €1,000 financed over 12 months with the Open Credit and Virtual Credit Card, made on 1st of the month, with the regular payment option and 12 fixed monthly instalments, on the assumption that there are no further drawdowns during that period or any breach of the terms and conditions of the agreement: 14.00% annual NIR; 14.93% APR; 11 instalments of €89.79 and a final instalment of €89.77. Total amount borrowed: €1,000. Total amount owed: €1,077.46. Total cost of credit: €77.46. The APR and the total amount to be paid are calculated on the assumption that the agreement will remain in force for the entire term and that the parties will meet their obligations under the agreed terms and conditions and repayment deadlines. French amortisation schedule.
3 Representative example for a purchase of €1,000 financed over 12 months with the Premium Credit and Diamond Credit, made on 1st of the month, with the regular payment option and 12 fixed monthly instalments, on the assumption that there are no further drawdowns during that period or any breach of the terms and conditions of the agreement: 9.57% annual NIR; 10.00% APR; 11 instalments of €87.72 and a final instalment of €89.67. Total amount borrowed: €1,000. Total amount owed: €1,052.59. Total cost of credit: €52.59. The APR and the total amount to be paid are calculated on the assumption that the agreement will remain in force for the entire term and that the parties will meet their obligations under the agreed terms and conditions and repayment deadlines. French amortisation schedule.
4 Representative example for a purchase of €200 financed over 3 months with the Open Credit Я42 Travel Card and Vanity Fair Reading Club Card, made on 1st of the month, with the regular payment option and 3 fixed monthly instalments, on the assumption that there are no further drawdowns during that period or any breach of the terms and conditions of the agreement: 14.00% annual NIR; 14.93% APR; 2 instalments of €68.23 and a final instalment of €68.22. Total amount borrowed: €200. Total amount owed: €204.68. Total cost of credit: €4.68. The APR and the total amount to be paid are calculated on the assumption that the agreement will remain in force for the entire term and that the parties will meet their obligations under the agreed terms and conditions and repayment deadlines. French amortisation schedule. Therefore, for this specific example, the cash purchase price would be €200 and the total amount to be repaid in instalments would be €204.68.
